Starting a new business is an exciting endeavor, but it also comes with complex tax considerations.

A recent Tax Court case involving petitioners Kwaku Eason and Ashley L. Leisner highlights the importance of understanding when a business officially “starts” and the implications for deducting expenses.

Case Summary

Eason and Leisner decided to transition into real estate services after exploring opportunities through an education provider. They formed Ashley & Makai Homes, an S corporation, intending to offer advice and guidance to real estate ... Log in to view full article.